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Encapsulated Flavors and Fragrances Market Size By Product (Flavor blends, Fragrance blends, Essential oils & natural extracts, Aroma chemicals), By Technology (Physical process, Chemical & Physicochemical Process), Encapsulation process, End-use, 2023 - 2032

  • Report ID: GMI1520
  • Published Date: Feb 2023
  • Report Format: PDF

Encapsulated Flavors and Fragrances Market Size

Encapsulated Flavors and Fragrances Market size worth USD 8 billion in 2022 and is projected to record over 4.5% CAGR from 2023 to 2032.

Encapsulated Flavors and Fragrances Market

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The increasing retail sales across developed and developing economies driven by a robust surge in population, rising disposable incomes, and living standards will complement the industry. Over the last decade, the retail sector has registered sizeable growth helped by higher spending on consumer goods, food, and other essentials. For instance, the Retailers Association of India (RAI) reported a 15% rise in retail sales in October 2022 from 2021. The worldwide expansion of the retail sector will have a positive influence on the industry.

High cost of encapsulation technologies to restrain industry growth

The escalating costs associated with encapsulation processes and technologies may impede the encapsulated flavors and fragrances market outlook to some extent. Encapsulation procedures, from developing the microcapsules to the equipment used for optimum processing conditions are expensive and need to be adjusted for economic convenience. Moreover, the availability of affordable alternatives to coating and membrane formulation for specific characteristics may limit the demand for encapsulated flavors and fragrances. However, the increasing consumption of functional foods for improving the overall health will offer lucrative business prospects for the application of innovative, microencapsulated flavors, vitamins, and nutraceuticals.

Encapsulated Flavors and Fragrances Market Analysis

Global Encapsulated Flavours and Fragrance Market Share, By Product

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The encapsulated flavors and fragrances market valuation from flavor blends segment is estimated to reach USD 4.8 billion by 2032. Flavor blends are expected to witness a surge in demand from food and beverage manufacturers propelled by the increasing consumer inclination towards healthy dietary lifestyles. The rising consumption of seasonal and spicy foods has further accelerated the demand for savory flavor blends across the food industry. Moreover, the recent advancements in processing technologies have enabled the development of customized flavor blends to address the specific requirements of customers. Thus, manufacturers are rapidly integrating advanced liquid and gas chromatography equipment by integrating next-generation tools, such as predictive modeling and AI to create flavor blends with higher consumer appeal.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of encapsulated flavors and fragrances surpassed USD 8 billion in 2022 and is anticipated to witness over 4.5% CAGR from 2023 to 2032.

The flavor blends segment is set to cross USD 4.8 billion by 2032, due to the increasing use of AI and next-gen production technologies.

The market size for encapsulated flavors and fragrances in North America is projected to record a 4.5% CAGR through 2032, driven by the rising consumption of ultra-processed food in the U.S.

Aveka Inc, Cargill, Clextral, Firmenich SA, Flavaroma, Fona International Inc, Glatt GmbH, Ingredion, Insta Foods, and Lycored are some of the key producers and suppliers of encapsulated flavors and fragrances.

Encapsulated Flavors and Fragrances Market Scope

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  • Base Year: 2022
  • Companies covered: 28
  • Tables & Figures: 1037
  • Countries covered: 22
  • Pages: 751
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